PagesJaunes confirms FY sales, earnings targets UPDATE |
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Fri, 26 Oct 2007 07:05
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PARIS (Thomson Financial) - PagesJaunes Groupe confirmed its full-year targets for sales and gross operating profits, but warned that growth in gross profits in the fourth quarter will slow from a year earlier, because of ongoing investments in the group's two new subsidiaries annoncesjaunes.fr and pagesjaunes.fr and the relaunch of the group's printed dictionary division.The comments came as the group posted a 4.6 pct increase in third quarter like-for-like sales to 314.1 mln eur.The company said sales in 2007 are expected to be 'close to' 6 pct, midway through its existing 5-7 pct guidance range, and that gross operating profit is expected to grow by 'close to' 4 pct, compared to the previous range of 2-4 pct.Revenues from printed directories are expected to rise slightly in the last three months of this year after decreasing by 0.1 pct in the third quarter, meaning full year sales will be almost unchanged compared to 2006. But growth in revenues from Internet services is expected to strengthen.'The upturn in the 118 008 service and the measures taken with regard to purchases have made it possible to absorb the investments made since the beginning of the year in the printed directories, pagesjaunes.fr and annoncesjaunes.fr,' said chief executive Michel Datchary. 'The Group is set to continue these investments in the fourth quarter. PagesJaunes Groupe therefore confirms its targets for full-year 2007.'tfn.paris@thomson.comses/slj/ses/salCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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